Personal Finance

WealthONE Bank of Canada

  • Last Updated:
  • Dec 13th, 2017 6:28 pm
[OP]
Member
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Jun 23, 2017
259 posts
64 upvotes
Toronto, ON
Darkman wrote:
Nov 3rd, 2017 2:59 am
moved $1,019.50 (leaving few cents in the account for now) from Wealth One Back over to Simplii (ex PCF) bank ... (2.50% vs 3%) ... without any issues...

Money left Wealth One on Nov. 2
Likewise, when I push funds out of WealthONE , my experience has been the funds consistently appear the next business day in the destination institution/account.
I have no issues moving my funds back to WealthONE one day, but for now 2.75% @ Tangerine and 3.00% Simplii are my better options.
Newbie
Feb 16, 2012
3 posts
Greater Sudbury
905P4N6 wrote:
Nov 9th, 2017 9:06 am
Likewise, when I push funds out of WealthONE , my experience has been the funds consistently appear the next business day in the destination institution/account.
I have no issues moving my funds back to WealthONE one day, but for now 2.75% @ Tangerine and 3.00% Simplii are my better options.
I'm assuming those 2.75% and 3% are temporary teaser rates right?? I'm not interested in chasing temporary sign up teaser rates. . . So thinking I'll use WealthOne to park money that I need to access right away if the stock markets crash, in order to buy more stocks.
Deal Fanatic
Mar 22, 2004
9267 posts
711 upvotes
RFD
Interesting I found this thread. So how is their online banking portal compared to Tangerine (which is awful) or EQ (which is decent)? Is it better, same, worse?
Deal Addict
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Dec 17, 2008
1811 posts
553 upvotes
Winnipeg
radeonboy wrote:
Nov 11th, 2017 1:38 pm
Interesting I found this thread. So how is their online banking portal compared to Tangerine (which is awful) or EQ (which is decent)? Is it better, same, worse?
Do you have accounts with any of the online Manitoba credit unions (well most of them use it) or Alterna Bank or Motive Financial? It uses the Memberdirect portal that the credit unions use. It's basic but functional.
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[OP]
Member
User avatar
Jun 23, 2017
259 posts
64 upvotes
Toronto, ON
radeonboy wrote:
Nov 11th, 2017 1:38 pm
Interesting I found this thread. So how is their online banking portal compared to Tangerine (which is awful) or EQ (which is decent)? Is it better, same, worse?
WealthONE is very, very basic in functionality.
Deal Fanatic
Mar 22, 2004
9267 posts
711 upvotes
RFD
Shawguy wrote:
Nov 11th, 2017 3:59 pm
Do you have accounts with any of the online Manitoba credit unions (well most of them use it) or Alterna Bank or Motive Financial? It uses the Memberdirect portal that the credit unions use. It's basic but functional.
Unfortunately I don't have experience with those, thanks for your help, I will expect basic then.
Deal Fanatic
Mar 22, 2004
9267 posts
711 upvotes
RFD
905P4N6 wrote:
Nov 11th, 2017 6:08 pm
WealthONE is very, very basic in functionality.
Thanks.
[OP]
Member
User avatar
Jun 23, 2017
259 posts
64 upvotes
Toronto, ON
radeonboy wrote:
Nov 11th, 2017 9:52 pm
Thanks.
No worries. Keep in mind WealthONE only allows you to link up to 3 external accounts (just like Tangerine). I like how EQBank lets you link more.
[OP]
Member
User avatar
Jun 23, 2017
259 posts
64 upvotes
Toronto, ON
MrFantabulous wrote:
Nov 11th, 2017 12:34 pm
I'm assuming those 2.75% and 3% are temporary teaser rates right?? I'm not interested in chasing temporary sign up teaser rates. . . So thinking I'll use WealthOne to park money that I need to access right away if the stock markets crash, in order to buy more stocks.
Correct, these are time-limited promotional interest rates.

2.75% from Tangerine expires Dec.31/2017
3.00% from Simplii expires Feb.28/2018.
Deal Addict
Feb 1, 2006
1251 posts
226 upvotes
Does WealthOne have a maximum of 100K per account like EQ?

Am thinking of maximizing CDIC coverage with them after Simplii promo expires:

100K my acct
100K my spouse's
100K joint acct
Newbie
User avatar
Aug 22, 2014
32 posts
8 upvotes
Rideau Ferry
minimalist wrote:
Nov 13th, 2017 3:12 pm
Does WealthOne have a maximum of 100K per account like EQ?

Am thinking of maximizing CDIC coverage with them after Simplii promo expires:

100K my acct
100K my spouse's
100K joint acct
No they don't have limit so that arrangement should be fine.
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May 8, 2009
2321 posts
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45.420833°N, 75.69°W
Wow, this looks really cool, and will most likely exceed my needs for a HISA. Here are my questions:
  1. Currently have some money stashed with Simplii with the 3% interest promo until February, since WealthOne requires an initial deposit of $1,000, I should wait until late February to open an account? What's the hold time on that $1,000?
  2. Say I want to stash more than $1,000, should I wait for that $1,000 to clear, then transfer the rest?
  3. All my bank accounts are with Simplii right now. How does "linking" an account work? Is it like e-transfer, but for savings accounts?
  4. Since I don't have an account with EQ yet, should I even bother if WealthOne is offering a better interest rate? I saw EQ sometimes offers referral incentives, I'm guessing WealthOne does not?
Am I missing anything? Time-wise I'm guessing I should open a WealthOne account in mid-February so that I transfer out of Simplii at the right time.
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Jr. Member
Jun 24, 2015
101 posts
14 upvotes
Toronto, ON
I have just opened an saving account under my name. Can I link a joint account to my wealthone saving account?
Deal Addict
User avatar
Dec 17, 2008
1811 posts
553 upvotes
Winnipeg
Darkman wrote:
Dec 6th, 2017 3:28 pm
I noticed the Wealth One's rate now: 2% ( 2.5% previously ) ... as of today:

https://www.wealthonebankofcanada.com/P ... s/Savings/
I noticed when you log in the account still shows 2.5...I guess that will update over night?
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